SHE:300556 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Net Income	-269.83	-363.64	23.02	46.4	71.84	60.61
Depreciation & Amortization	33.77	33.77	38.84	42.65	38.97	11.81
Other Amortization	5.77	5.77	6.46	7.23	5.31	5.34
Loss (Gain) From Sale of Assets	-1.95	-1.95	-0.1	-0.9	-0.31	0.09
Asset Writedown & Restructuring Costs	3.9	3.9	1.5	-0	31.54	27.8
Loss (Gain) From Sale of Investments	6.1	6.1	7.36	8.1	-4.27	-16.58
Provision & Write-off of Bad Debts	61.7	61.7	111.89	34.11	25.99	2.93
Other Operating Activities	162.18	21.77	19.43	12.07	1.07	5.7
Change in Accounts Receivable	278.18	278.18	-311.24	-113.55	-323.28	-72.69
Change in Inventory	-29.88	-29.88	9.69	2.4	-12.11	-12.66
Change in Accounts Payable	-104.13	-104.13	127.33	-54.72	279.39	77
Change in Other Net Operating Assets	2.47	2.47	0.27	3.64	0.34	21.14
Operating Cash Flow	92.14	-142.09	15.55	-14.42	123.14	102.87
Operating Cash Flow Growth	-	-	-	-	19.70%	131.97%
Capital Expenditures	-3.41	-3.85	-58.44	-18.78	-22.33	-20.04
Sale of Property, Plant & Equipment	4.96	5.02	1.45	0.22	0.7	0.42
Cash Acquisitions	-	-	-0.62	-	-	-4.95
Divestitures	-	-	-0.07	-	-	-
Investment in Securities	-84.81	10.21	47.77	3.43	-5	-49.67
Other Investing Activities	-1.06	-	7.38	1.83	1.85	3.77
Investing Cash Flow	-84.33	11.38	-2.52	-13.3	-24.78	-70.47
Short-Term Debt Issued	-	-	-	85	44.9	99.9
Long-Term Debt Issued	-	158.5	130	-	-	-
Total Debt Issued	120.5	158.5	130	85	44.9	99.9
Short-Term Debt Repaid	-	-	-	-44.9	-99.9	-80
Long-Term Debt Repaid	-	-150.13	-115.74	-29.17	-30.64	-
Total Debt Repaid	-213.63	-150.13	-115.74	-74.07	-130.54	-80
Net Debt Issued (Repaid)	-93.13	8.37	14.26	10.93	-85.64	19.9
Issuance of Common Stock	0.04	2.76	30.92	241.7	27.81	23.03
Repurchase of Common Stock	-	-	-	-	-1.09	-1.81
Common Dividends Paid	-5.51	-9.89	-10.82	-10.83	-11.3	-12.12
Other Financing Activities	25.95	11.51	8.28	-7	-27.17	-6.43
Financing Cash Flow	-72.64	12.76	42.63	234.8	-97.39	22.58
Foreign Exchange Rate Adjustments	-0.02	-0.02	0.26	0.76	0.06	0.14
Net Cash Flow	-64.86	-117.98	55.92	207.84	1.03	55.12
Free Cash Flow	88.73	-145.94	-42.89	-33.2	100.8	82.84
Free Cash Flow Growth	-	-	-	-	21.69%	192.30%
Free Cash Flow Margin	16.45%	-24.82%	-3.00%	-2.57%	7.26%	8.25%
Free Cash Flow Per Share	0.73	-1.20	-0.35	-0.28	0.84	0.70
Cash Interest Paid	0.47	0.47	0.77	0.86	0.82	0.97
Cash Income Tax Paid	34.75	53.44	49.76	60.81	81.77	52.85
Levered Free Cash Flow	56.48	-98.18	43.25	-97.45	48.14	129.92
Unlevered Free Cash Flow	68.84	-86.02	54.83	-88.68	50.96	133.49
Change in Working Capital	90.51	90.51	-192.84	-164.08	-47.01	5.17

Source: S&P Global Market Intelligence. Standard template. Financial Sources.